Silver inventories plummet at LBMA and COMEX

Numismatic News/Patrick A. Heller/9-15-2022

photo of three silver bars“Where is the physical silver going that is leaving the LBMA and COMEX? Metals Focus India reports that silver demand in that country, perhaps the world’s top silver consuming nation, is now so strong that the silver price in India is trading at a premium to the world silver spot price. In July 2022, almost 58 million ounces of physical silver was imported into India. This was at least 50 percent higher than in any month in the previous four years and may be an all-time high record amount of imports into India in any month.”

USAGOLD note: Silver, like gold, is traveling west to east. We cited this article in Tuesday’s DMR and repost it here for those who may have missed it.

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